Director Albert Johnson Retires
BIRMINGHAM, Ala.--(BUSINESS WIRE)--
Hibbett Sports, Inc. (NASDAQ/GS: HIBB), an athletic specialty retailer,
today reported on its 2017 Annual Meeting of Stockholders. In formal
business conducted at the meeting, stockholders re-elected two directors
to three-year terms that expire with the 2020 annual meeting. They
include Anthony F. Crudele and Ralph T. Parks.
Albert C. Johnson, a director since 2008, chose not to stand for
re-election at the conclusion of his current term, which ended with this
annual meeting.
Commenting on the retirement of Al Johnson from the Board, Jeff
Rosenthal, President and Chief Executive Officer, said, “On behalf of
Hibbett Sports, we want to thank Al for his dedicated service to the
Company as a director for nine years and as a member of the Compensation
and Audit committees, including his leadership of the latter as chair
from 2009 until 2013. As a retired CPA and independent financial
consultant with more than 50 years of experience across a range of
industries, Al brought a broad view of strategic operations and
financial and accounting insight to the work of our board. We very much
appreciate the contributions he has made to the growth and success of
our company and wish him all the best in the future.”
Johnson added, “It is with mixed emotions that I retire from the Board
of Hibbett Sports after nine years of service. I have enjoyed being on
the Board and serving as its Chairman of the Audit Committee for about
half of that time. I have seen the Company grow to almost 1,100 stores,
expand into new markets and embark on omni-channel/e-commerce
initiatives that will ensure its future success. I leave knowing that
the Company is in very capable hands as it has an outstanding management
team with great vision and expertise to face the current challenges of
the retail industry and to continue to successfully grow the Company in
the future.”
In other matters at the meeting, stockholders ratified the selection of
KPMG LLP as the Company's independent registered public accounting firm
for Fiscal 2018, approved by non-binding advisory vote the compensation
of the Company's executive officers, and approved a one-year frequency
for an advisory vote on executive compensation.
Hibbett Sports, Inc. operates athletic specialty stores in small to
mid-sized markets, predominately in the South, Southwest, Mid-Atlantic
and Midwest regions of the United States. The Company’s primary store
format is Hibbett Sports, a 5,000-square-foot store located in strip
centers and enclosed malls.
A WARNING ABOUT FORWARD LOOKING STATEMENTS: Certain matters
discussed in this press release are “forward looking statements” as that
term is used in the Private Securities Litigation Reform Act of 1995.
Forward looking statements address future events, developments or
results and typically use words such as believe, anticipate, expect,
intend, plan, forecast, guidance, outlook, or estimate. For
example, our forward looking statements include statements regarding
future success of the company. Such statements are subject to
risks and uncertainties that could cause actual results to differ
materially, including economic conditions, industry trends, merchandise
trends, vendor relationships, customer demand, and competition. For
a discussion of these factors, as well as others which could affect our
business, you should carefully review our Annual Report and other
reports filed from time to time with the Securities and Exchange
Commission, including the “Risk Factors,” “Business” and “MD&A” sections
in our Annual Report on Form 10-K filed on March 28, 2017. In light of
these risks and uncertainties, the future events, developments or
results described by our forward looking statements in this document
could be materially and adversely different from those we discuss or
imply. We are not obligated to release publicly any revisions to
any forward looking statements contained in this press release to
reflect events or circumstances occurring after the date of this report
and you should not expect us to do so.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170518006371/en/
Hibbett Sports, Inc.
Scott J. Bowman, 205-942-4292
Senior Vice
President & Chief Financial Officer
Source: Hibbett Sports, Inc.
